URGENT: Japanese parliament endorses academic Ueda for next BOJ governor
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Japan’s parliament on Friday approved academic Kazuo Ueda as the next Bank of Japan governor, entrusting him with the formidable task of minimizing the side-effects of the central bank’s protracted monetary easing and preparing the ground for an exit strategy once its inflation target is within reach.
Ueda, 71, will take over on April 9 from Haruhiko Kuroda, who has been at the helm of the BOJ for 10 years. Friday’s approval by the House of Councillors set the stage for the government to formally appoint Ueda, as the more powerful House of Representatives gave the go-ahead a day earlier.